Everest Bank Closing Issue of “7.5% Everest Bank Debenture 2091” from Today
March 7, 2025 | Investopaper
Everest Bank Ltd. (EBL) is currently issuing a debenture named “7.5% Everest Bank Debenture 2091”.
The debenture offering is open from Falgun 18, 2081 BS. Due to full subscription, the issue will close on Falgun 23, 2081 BS. Earlier, the issue was set to close on Falgun 21, 2081 BS. However, due to under-subscription until that period, the deadline for application was extended until Chaitra 3, 2081 BS.
Everest Bank is floating 30 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 3 Arba.
Out of the total issue, the bank is selling 18 lakh units debenture worth Rs. 180 crores through private placement. Likewise, the general public can apply for the remaining 12 lakh units that amount to Rs. 120 crores. Out of the general public’s quota, 5 percent has been reserved for the mutual fund schemes.
The debenture will provide 7.5 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2091 BS.
Interested investors can apply for a minimum of 25 units and a maximum of 12,00,000 units.
For this purpose, Securities Board of Nepal (SEBON) had given approval to the company on Magh 15, 2081 BS. The bank had submitted an application to the board on Ashad 20, 2081 BS seeking permission to issue the debenture.
Everest Bank has appointed Laxmi Sunrise Capital Limited the issue and sales manager for the debenture. An agreement has already been reached between the bank and Laxmi Sunrise Capital in this regard.
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